Commonwealth Consolidated Acts

CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 333.15

Manner of preparing report

  (1)   The regulations may require a section   333 - 5 report to be prepared in the manner required by the regulations.

Manner of preparing financial report

  (2)   If a section   333 - 5 report is a financial report, regulations made for the purposes of subsection   (1) of this section may do one or more of the following:

  (a)   require that the financial report, or a part of it, be audited;

  (b)   require that the auditor be:

  (i)   an individual auditor who has particular qualifications or experience; or

  (ii)   an audit firm that has a member or members who have particular qualifications or experience; or

  (iii)   an authorised audit company;

  (c)   require that a person may only participate in the conduct of the audit in a particular capacity if the person has the qualifications or experience specified in the regulations;

  (d)   require that the audit of the financial report, or a part of it, be conducted in accordance with the auditing standards;

  (e)   require that the financial report, or a part of it, must be prepared in compliance with the accounting standards;

  (f)   require that the corporation's directors make a declaration of the kind specified in the regulations in respect of the financial report;

  (g)   require that a declaration by the directors in relation to the financial report must only be made after each person who performs a particular function in relation to the corporation has given the directors a declaration of a kind specified in the regulations in respect of the financial report;

  (h)   require that specified officers of the corporation sign the financial report.

This subsection does not limit subsection   (1).

Note:   Paragraph   (a)--Division   339 deals with the audit of a financial report.

Giving report to members

  (3)   If a section   333 - 5 report is not a financial report or a directors' report for a financial year, the regulations may:

  (a)   require the corporation to give a copy of the report to its members (whether generally or on request); and

  (b)   specify the time within which, and the manner in which, the report is to be given to the members.

Note:   An Aboriginal and Torres Strait Islander corporation is required to provide copies of a financial report or a directors' report to members on request under Division   342.